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WOW! RARE OPPORTUNITY TO ACQUIRE A MULTI-RESIDENTIAL INCOME PROPERTY IN BURBANK'S HIGHLY SOUGHT AFTER "RANCHO" DISTRICT!
Located just east of the entrance to the Los Angeles Equestrian Center on Riverside Drive, this small yet conforming duplex offers tremendous upside relative to the current low rents and appreciation potential given the superior Burbank location. Consisting of two (2) one Bedroom / one Bath units. with a double detached garage at the rear with alley access, the structure, built in 1950, measures 1,140 sq. ft. and is situated on a 2,905 sq. ft. lot (both figures per Assessor). Additionally, the property is zoned BUR4, so although the lot is fairly small, the property could be expanded, developed and/or a possible Accessory Dwelling Unit (ADU) conversion of the garage. Between the two units and the garage is a nice size, private patio area featuring a mature lemon tree. Both units have wall furnaces on thermostats and window/wall air conditioning units. Per Owner, the plumbing has been upgraded with copper and the original windows in both units have been replaced/upgraded.
Current rents are well under market: Unit A (Front) currently renting for $825 plus $75 for garage; Unit B (Rear) currently renting for $825.
Both units will be delivered occupied by current tenants. Interior inspection(s) will be scheduled with an accepted offer. PLEASE DO NOT GO ON THE PROPERTY OR DISTURB THE TENANTS. Please call Dan with any questions.
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